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Bitcoin reached a record high of over $122K on Monday. The largest cryptocurrency in the world was up 4.2%, reaching a record high of $122K

The pioneer crypto asset’s gains came after Metaplanet, a Japanese hotelier who is now a Bitcoin treasurer, announced that it had purchased an extra 797 Bitcoin, increasing its total holdings to 16,352 coins.

The company owns the fifth-largest amount of Bitcoin among corporations. Bitcoin has surged due to robust ETF inflows and growing optimism for more crypto-friendly US regulations. The U. S. has bolstered the expectations of investors.  The House of Representatives will discuss several historic cryptocurrency bills, such as the Anti-CBDC Surveillance State Act, the Genius Act, and the Clarity Act.

The most recent increases in Bitcoin came after Metaplanet, a Japanese hotelier who is now a Bitcoin treasurer, announced that it had purchased an extra 797 Bitcoin, increasing its total holdings to 16,352 coins. The company owns the fifth-largest amount of Bitcoin among corporations.

Bitcoin has surged due to robust ETF inflows and growing optimism for more crypto-friendly US regulations.

These laws, if approved, might create thorough regulatory frameworks that control stablecoins, the custody of cryptocurrency assets, and the entire digital financial system. Institutional demand is still strong, which supports the bullish sentiment. U.S. prominent asset managers like BlackRock and Fidelity continue to see record-breaking inflows into spot bitcoin ETFs.